Recap NQ bottomed early in the week with Dow and ES but it was not one of the stronger bottoming pattern. Y-0 cleared and then it was a struggle to go higher since. NQ topped at 100% range expansion and reacted violently back down to the start of the up drift. Closed the week above Y-0 and midpoint.
Outlook A test of Y-0 / B-0 likely. Strong resistance at 4300 zone. A breach of B-0 can easily lead to B-1 and below.
Lawrence's Comment
Recap
As expected stuck within the tight week established over the past several weeks. Closed the week near midpoint.
Outlook
If B-0 acts as support and push for a breakout ...
Nasdaq 100 Feb 09 to Feb 13 Outlook
Lawrence’s Comment
NQ bottomed early in the week with Dow and ES but it was not one of the stronger bottoming pattern. Y-0 cleared and then it was a struggle to go higher since. NQ topped at 100% range expansion and reacted violently back down to the start of the up drift. Closed the week above Y-0 and midpoint.
Outlook
A test of Y-0 / B-0 likely. Strong resistance at 4300 zone. A breach of B-0 can easily lead to B-1 and below.
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